NEW DELHI, June 9: The Export-Import Bank of India (Exim Bank) will soon start a special facility cell to promote social infrastructure like schools and hospitals in the neighbouring nations.
"We have received approval from the government. We are setting up a special purpose facility at Delhi which will be operational very shortly," Exim Bank Chairman and Managing Director Yaduvendra Mathur told PTI.
The facility would help and advice neighbouring nations with regard to development of social infrastructure, including schools, hospitals and ICT (information and communications technology), he said.
"Our experts would provide complete solution for creation of infrastructure, promoted under Public Private Partnership mode," he added.
Besides uplifting the living conditions of the people of these nations, it will help promote products made in India.
It would be a win-win situation for both sides, he said, adding that proposals from different countries would come up once the facility formally starts.
Meanwhile, the bank paid Rs 433 crore as dividend to the government for 2014-15. The bank made a post-tax profit of Rs 726 crore for the fiscal ended March, 2015.
In the last five years, the bank has transferred Rs 1,425 crore as balance of net profit to the government.
Exim Bank's objective is to finance export of projects, products and services from India through a variety of financing programmes, including Lines of Credit, to overseas entities and Buyer?s Credits to overseas importers.
The bank, in conjunction with ECGC, offers Buyer's Credit under National Export Insurance Account (NEIA), under which it finances project exports from India on medium to long-term basis to foreign governments and government-owned entities, without recourse to Indian project exporters.
The Bank, along with IL&FS, African Development Bank and the State Bank of India, has also floated a project development company in Africa.
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